Question
FNB offers a 31 day interest free loan service. However, they have an initiation fee of 13%. Will it be permissible to take such a loan?
Answer
In fact, the 'initiation' fee of 13% is riba. Shaitaan has simply advised them to resort to a gimmick. It is haraam to obtain this loan.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 23 No 02
- PDF page
- 3
Appears under Questions and Answers (approximate).